Sherman, CT—06784
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Sherman, CT
As of Oct '25, the median home price in Sherman, CT is $687,000, with a year-over-year change of -0.5%. This indicates that home prices in Sherman, CT are flat. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $687,000 | -0.5% |
| Single Family | $688,000 | -0.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $502,000 | -1.2% |
3 Bed | $642,000 | -0.8% |
4 Bed | $826,000 | 0.2% |
| 5 Bed | $1,165,000 | 0.7% |
% of Housing Stock
Rental Trends — Sherman, CT
As of July '25, Rentcast reports the average rent in Sherman, CT is $5,150, with a year-over-year rent change of -8.5%. Per bedroom, the median rent as of July '25 in Sherman, CT is 1-bedrooms: $2,200, 2-bedrooms: $3,410, 3-bedrooms: $6,320, 4-bedrooms: $8,250. The most common rental property sizes in Sherman, CT are 2-bedroom and 1-bedroom, accounting for 35.8% and 32.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,750 | $5,150 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,200 | $2,200 |
| 2 Bed Rent | $2,650 | $3,410 |
| 3 Bed Rent | $2,650 | $6,320 |
| 4 Bed Rent | $6,500 | $8,250 |
% of Rental Stock
Property Listings — Sherman, CT
As of Oct '25, Realtor.com reports that the median days on market for a home in Sherman, CT is 66. This is a increase of 10.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,090,000 | -3.0% |
Listing Count | 26 | -24.0% |
| Listings as % of Homes | 0.7% | -24.0% |
Days on Market | 66 | 10.0% |
Demographics — Sherman, CT
As of the latest ACS Survey released in 2023, Sherman, CT has a population of 3,520, which has decreased by -5.7% over the past 5 years. Sherman, CT is a less popular place for families, as children make up 13.6% of the population. The area has a highly educated workforce, with 62.4% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 36.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,520 | -5.7% |
% Under 18 | 13.6% | -29.9% |
% Seniors | 30.4% | 46.2% |
% WFH | 36.6% | 221.1% |
% w/ College Degree | 62.4% | 21.9% |
As of the latest ACS Survey released in 2023, Sherman, CT is a predominantly white area, with 84.4% of the population identifying as white. The white population has shrunk by 7.7% in the last 5 years. The second most common race or ethnicity in Sherman, CT is hispanic, making up 6.7% of the population. Foreign-born residents account for 7.9% of the population in Sherman, CT, and this percentage has increased by 12.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 84.4% | -7.7% |
% Black | 0.7% | ∞% |
% Hispanic | 6.7% | 139.3% |
% Asian | 0.9% | -72.7% |
% Foreign Born | 7.9% | 12.9% |
Mortgage and Risk — Sherman, CT
According to HUD data as of 2023, there were 61 mortgage originations in Sherman, CT, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 46.0%, with 5.0% above 90% LTV (normal). This implies small mortgage risk in Sherman, CT. Investor activity is low, as 0.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 61 |
% Conventional Loans | 100.0% |
% Government Loans | 0.0% |
% Investor Loans | 0.0% |
% Second Loans | 7.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Sherman, CT
As of 2024, the percent of homes in Sherman, CT under the Section 8 program is 1.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Sherman, CT, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | 1.5% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$40 | $2,200 | $2,160 |
| 2 Bedroom | -$80 | $2,650 | $2,570 |
| 3 Bedroom | $620 | $2,650 | $3,270 |
| 4 Bedroom | -$2,960 | $6,500 | $3,540 |
Affordability — Sherman, CT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.9 |
| Median Home Price | $687,000 |
| Median Household Income | $106,000 |